Average property prices

The average property prices aim to provide a stable and reliable estimate of the average price levels and value of real estate at regional level in Austria.  It is based on data of real estate transactions by private households. Results for flats and houses are available on district level. Houses are categorized by land area and size of the living area. Results for flats are given with and without outdoor areas, and three living area size categories. Average prices for plots of land suitable for construction are given for Austrian municipalities.

The focus is on stable average prices.  The average property prices are targeting the price level of a single year, but transactions from the four previous years are used as well. A hedonic regression model is used to adjust prices of these years to the targeted price level. The characteristics used in the regression include living area, land area, period of construction, as well as location.

How to use the tables

Houses:

House prices are separated in three different land size categories on which the house stands. Hence the first step is to search for the applicable land size category. The table “Land size categories” assigns a square meter land size in each district to a category. Small plots are category A, medium sized category B and large sized plots are category C. With this information the square meter price for a given house in a certain district can be found in the respective price tables for categories A, B or C. The table names correspond with the land area size categories. The price tables give for each district the average square meter prices for three categories of the houses’ living area size. The total price can be obtained by multiplying the respective living area with the average price in the applicable category. All tables from 2016 onward differentiate between three different construction periods. 

Flats:

Average prices for flats are given in two tables. One table is for flats without a balcony, terrace or garden. The other table is for flats with a balcony, terrace or garden.  In both tables there are three categories corresponding to the size of the flats living area.  All prices are given in Euro per square meter.  Please note that shares of land area are already included in the average prices given in the table and needs not be considered separately.   The final result is obtained by multiplying the respective living area with the average price in the applicable category. All tables from 2016 onward differentiate between three different construction periods. 

Definition of living area:

The living area of a house or flat is given by the total floor area minus wall thickness and doorways, measured in square meters.  Attic and cellar areas do not count as living area as long as they are not endowed for living or office purposes.  Outdoor areas like balconies, terrace or garden do not add to the living area. Please note that a loggia does add to living area, and does not constitute an outdoor area.

Average prices for land:

All tables with the exception of the table for 2015 list average property prices for land suitable for construction in all Austrian municipalities. Nearby municipalities with small transactions frequencies are aggregated by price level during the calculation.

The table “Prices of building plots 2015” lists property prices for land suitable for construction at regional level in Austria. Each district is listed separately. The first row, marked “Total” gives average square meter prices at the district level. This value is for information purposes only. Subsequent rows show average square meter prices for municipalities inside the district with more than 15 transactions.  Municipalities with less than 15 transactions are grouped together as “Other municipalities”.  To calculate the average value of land in one of the municipalities under the threshold of 15 transactions, the “Other municipalities” value is multiplied with the lot size in square meters.

Legal basis

Average property price statistics is regulated by the Act 442/2015 of the Ministry of Finance (BGBl. II Nr. 442/2015 Grundstückswertverordnung – GrWV) released on 21st December 2015.

By this regulation the average property prices published by Statistik Austria may be used to calculate real estate transfer tax for unpaid transactions (inheritance or receiving real estate as a gift). If the tax burden incurred between January 01, 2017 and June 12, 2017 the tables for the year 2015 have to be used. From June 12, 2017 the tables for the year 2016 are applicable. From June 01, 2018 the tables for the year 2017 are applicable. After June 01, 2019 the tables for the year 2018 are applicable. From June 01, 2020 the tables for the year 2019 are applicable.

Calculation

All calculated values are geometric means of prices observed in real estate transactions. A regression model adjusts the price levels of transactions predating the target year to its price level. Prices for houses and flats are given in Euro per square meter of living area. Prices for land suitable for construction are given in Euros per square meter of land.

Special evaluation

The special evaluation of average property prices is a yearly analysis of real estate transactions of Austrian households. The analysis aims to give insights into the Austrian real estate market. Yearly median values for houses, apartments and building plots are published. A minimum of 10 transactions are required for a price to be listed. All prices are either measured per square meter of indoor living area for apartments and houses, or land size for plots. The data is based on the transaction contracts stored at the Austrian Land Register. The areas used in price calculation are either sourced from the contracts or from the Austrian Buildings and Dwellings Register.

Special evaluation
Prices of land suitable for construction 2019
Land area categories and House Prices 2019
Prices for flats 2019
Prices of land suitable for construction 2018
Land area categories and House Prices 2018
Prices for flats 2018
Prices of land suitable for construction 2017
Land area categories and House Prices 2017
Prices for flats 2017
Prices of land suitable for construction 2016
Land area categories and House Prices 2016
Prices for flats 2016
Prices of land suitable for construction 2015
Land area categories and House Prices 2015
Prices for flats 2015


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